Consultant extradited to U.S. for Ex-Im Bank fraud

Monday, January 28, 2013

Manuel Ernesto Ortiz-Barraza, an independent financial consultant, was extradited to the United States from Mexico Friday for his alleged role in a scheme to defraud the U.S. Export-Import Bank of over $2.5 million, according to the U.S. Justice Department.
Ortiz-Barraza, 56, was charged in an indictment unsealed on Oct. 19, 2011, in the Western District of Texas with one count of conspiracy to commit wire and bank fraud, three counts of wire fraud and one count of bank fraud for his alleged role in a scheme with several others to defraud Ex-Im Bank.
Based on a provisional arrest warrant, Mexican authorities arrested Ortiz-Barraza on Feb. 13, 2012, and he has been awaiting extradition to the United States, a process which was recently finalized by the Mexican courts, the Justice Department said.
The U.S. indictment and court documents said Ortiz-Barraza and his co-conspirators allegedly conspired to obtain Ex-Im Bank guaranteed loans through banks by creating false loan applications, false financial statements and other documents purportedly for the purchase and export of U.S. goods into Mexico.
Ortiz-Barraza and his co-conspirators also allegedly falsified shipping records to support their claims of doing legitimate business, but did not ship the goods that were guaranteed by the Ex-Im Bank.
After the loan proceeds were received, Ortiz-Barraza and his co-conspirators allegedly split the loan proceeds among themselves, the Justice Department said.